The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: ChanceIs who wrote (207861)	6/24/2009 11:21:39 AM
From: Smiling Bob	Read Replies (1) of 306849

Picked up a few puts on PCBC Mkt briefly resuscitated. --- SmarTrend(R) News Watch: Pacific Capital Bancorp Plummets on Deferrals and Moody's Downgrade Tuesday 06/23/2009 3:24 PM ET - Comtex Smartrend(r) Related Companies Symbol Last %Chg PCBC 2.79 5.28% As of 11:17 AM ET 6/24/09 Shares of Pacific Capital Bancorp (NASDAQ:PCBC) plummeted more than 19% in Tuesday trading after the bank announced the deferral of and interest payments to debt holders and suspension of dividend payments to common and preferred stockholders, including the U.S. government, which in turn led to a downgrade of its credit by Moody's Investors Service. Moody's downgraded the company 3 levels to Ba1, which is below investment grade. Shares of PCBC have fallen more than 59% since SmarTrend's Downtrend alert issued on May 1, 2009 at $6.52. ---------------------------------------------------------------------------------------------

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